kwan

Per travelocity.com, "By having your checks issued in specific foreign funds, you'll receive a much better exchange rate than what's available at banks abroad". Is it true in Yunnan province? We will be travel to from SFO to HK, then to Kunming, Bana, Dali and Lijang last week of this month. <BR>Should we buy American Express traveler checks in Yuan to get better exchange rate? <BR>Thanks. <BR>Kwan <BR>

john g

The rate of exchange should be the same, whether or not you use dollars or traveller's checks. I was in China last year and since the gov't controls the rate of exchange it is the same everywhere--at hotel, bank, "cambio," etc.

scigirl

The advantage of taking travelers checks in USD is if you don't use all your checks you can easily redeposit them. We took travelers checks to China as well as some cash (not much cash, but enough for 'emergencies'). In fact, the exchange rate for USD travlers checks was better than the exchange rate for cash (USD), oddly enough. John is correct that the exchange rate is the same regardless of where you change your money - but the exchange rate varies for what you are changing (cash vs. travelers checks). Additionally, use of an ATM in China yields the 'cash' exchange rate, making travlers checks a better relative bargain in China. (Unlike travel in Europe, where using an ATM to get local currency yields a better rate than travelers checks.). However, if you change Yaun travelers checks back to USD after your vacation you will certainly lose in the exchange rate - so better to take USD (or British pounds, or whatever currency from your home) and change them in China as you need funds. <BR> <BR>I hope this is helpful.

John G

Ummmmm, I used both traveller's checks and cash and I always got the same rate: 8 yuan to 1 dollar. You might want to think twice about the reliability of an ATM card in China. My friend tried to use hers and the instructions were in Chinese.

kang

Kwan, <BR> <BR>I am not sure you can buy American Express traveler checks in Yuan in the US before you leave. Even so, I don't think there would be much difference than simply using USD based traveller's checks. <BR> <BR>I suggest you bring enough cash and some traveller's checks as backup. Forget about ATM card; you cannot find any functioning machines in the places you are going to visit that accept cards issued by foreign banks. You can of course use your ATM card in HK. <BR> <BR>Since my scanner is broken, I am afraid that I cannot post the pictures I once mentioned before your trip. I am sure you will have a great time in China, and bring back many good pictures.

Peter Neville-Hadley

A couple of points on the above: <BR> <BR>Travellers' cheques do in fact always attract a better exchange rate than cash in China. Cash is typically around Y8.07 to the dollar, and Y8.27 for cheques. <BR> <BR>Lists of ATMs which will take mainstream cards can be found on the web sites of issuing companies, such as www.mastercard,com, and www.visa.com. <BR> <BR>Machines accepting foreign cards can be found in Kunming, but not in the smaller towns and cities of Yunnan. <BR> <BR>If you plan to use an ATM card to draw cash, always have a back-up in case of difficulty. Where machines do not work it's possible to draw cash over the counter at most branches of the Bank of China, but the commission rate is 4%--not a very good deal. <BR> <BR>American Express has agreements with quite a long list of banks, including some in Kunming and elsewhere in Yunnan Province which allow you to use their emergency cheque cashing service--a cheap option. Simply take your card and a cheque drawn on any bank where you have an account. Make out the cheque for an amount in the hard currency of its origin, and you can receive hard currency or RMB cash. List of banks available from Amex. <BR> <BR>Cash and travellers' cheques in every hard currency you can think of are welcome in China, although if you take Finnish markka you may have to wait while the teller digs out a reference work. US$ and the more common European currencies are best. <BR> <BR>Peter N-H <BR>Information about Travel in China <BR>http://members.axion.net/~pnh/China.html

kwan

I thank you all for your suggestions. They are all helpful. <BR> <BR>Kang, I was wondering about your pictures, it has been a while since you posted my last response. <BR>As of today we are still planing to take a trip to HK/Kunming/Dali.Lijing/Bana. <BR>We will have a great time. Thanks again. <BR>

kang

<BR>Kwan <BR> <BR>You are welcome. <BR> <BR>To comment on one previous post. Yes, you can find ATM machines accepting foreign cards in Kunming, but none of them could make connections to the international network. I tried no less than 4 to 5 largest banks with no luck. So just don't count on your ATM card. <BR> <BR>You surely will have lots of fun. Remember to bargain on everything, cut the asking price by at least 50%, the same Kodak films in China are cheaper but don't buy them from the street hawkers, make sure going out in the evening to mix with the locals in Lijiang, what else? Well, just enjoy the experience.